ARRIS and Charter team up to acquire ActiveVideo
ARRIS Group and Charter Communications have established a joint venture that has agreed to acquire ActiveVideo for approximately $135 million.
ARRIS will own 65% of the joint venture company and will be the sales channel for ActiveVideo’s CloudTV platform. Closing of the transaction is expected to occur in the second quarter, subject to customary closing conditions, including receipt of necessary regulatory approvals.
“ActiveVideo’s CloudTV platform is one of the enabling technologies behind Spectrum Guide,” comments Tom Rutledge, President and CEO of Charter Communications. ”We have worked very closely with ActiveVideo on the development of this technology, and now, as a 35% shareholder, are uniquely positioned to support the continued innovation and marketplace adoption of ActiveVideo’s solutions. Today’s announcement extends Charter’s long-standing relationship with ARRIS, who continues to be a key provider of both infrastructure and consumer premises equipment.”
